Business
Audited Results For Year Ended 31 December 2021
Audited Results For Year Ended 31 December 2021.
About this update from Water Intelligence Plc
[{"type":"text","content":"\n \n \n Water Intelligence plc\n \n \n Audited Results For Year Ended 31 December 2021\n \n \n Water Intelligence plc (AIM: WATR.L) (\"Water Intelligence\", the \"Company\" or \"Group\"), a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water, is pleased to present its full, audited results for the year ended 31 December 2021.\n \n \n ·\n Statutory results higher than previously announced due to $1.9m one-off gain\n \n \n ·\n Adjusted FY results (not including one-time gain) in line with February trading update with revenues +44%, Adjusted EBITDA +48% and EPS +29%\n \n \n ·\n Confident in further corporate development through 2022; well placed to navigate inflationary challenges in order to be in line with market expectations for 2022 with a strong Q1 already reported\n \n \n \n Overview\n \n \n \n During 2021 and the first quarter of 2022, the Group deployed capital that it raised to accelerate delivery of its plan to build a leading multinational growth company for water and wastewater infrastructure solutions. The Group has achieved strong results across various dimensions of the plan: (i) sales growth; (ii) profits; (iii) acquisitions that add scale, organizational control and new product offerings; (iv) significantly increased execution capabilities through hirings ranging from more technicians to senior-level management and board; and (v) multiple equity and debt financings to establish a balance sheet that can sustain our growth trajectory for the long-run.\n \n \n A strong 2021 reinforced our confidence in our growth plan. Water Intelligence's compounded annual growth rate (\"CAGR\") from 2016 to 2021 has reached 35% in terms of revenue and 49% in terms of statutory profit before tax (\"PBT\"). Such statutory PBT growth does not take into account a one-time $1.9 million profit gain recorded in 2021 which would have driven the trailing CAGR significantly higher. Moreover, our critical mass of \"network\" sales to third-party customers (gross sales by corporate-run locations and indirect gross sales by our franchisees under the same brand from which Group royalty is derived) grew 14% to approximately $147 million (2020: $129 million). This is further reinforced by like for like sales growth of 18% from corporate owned st...